CHARLOTTE, N.C. — New leadership is at the helm of one of Charlotte’s largest corporations.
Sonic Automotive Inc., a Fortune 500 company and one of the nation’s largest automotive dealer groups, announced yesterday that B. Scott Smith, who co-founded the company with father O. Bruton Smith, has resigned as CEO and president. He’s also given up his seat at the board, citing a desire to spend more time with family.
The company says the younger Smith will remain as an employee of Sonic to help ensure a smooth transition. David Bruton Smith, who The Charlotte Observer notes is the brother of Scott Smith, has assumed the role of CEO, while Jeff Dyke is now president. Both have been executives with Sonic for years.
The Smith family is known for building an empire of automotive and racing-related businesses. Besides Sonic, Bruton Smith founded Speedway Motorsports Inc., the locally based operator of Charlotte Motor Speedway and several other racetracks.
Read the full story here.
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